Valaris stock holds near $88 before the bell as rating agencies flag takeover risk
Valaris shares held near $88.40 in premarket trading Thursday after a 10.8% surge on Wednesday, following news of a $5.8 billion all-stock sale to Transocean. Fitch and S&P put Valaris’ credit ratings on negative watch. Traders await Valaris’ Feb. 19 earnings for more details on the deal. Transocean stock also climbed in premarket trading.